Elevance Health To Buy Paragon Healthcare For Undisclosed Sum

(RTTNews) - Elevance Health, Inc. (ELV), a health benefits company, Thursday announced that it has entered into an agreement to acquire Paragon Healthcare, Inc.

The financial details of the transaction are not yet known.

Paragon Healthcare headquartered in Texas, provides convenient care to patients with a broad range of chronic and acute conditions.

After the acquisition, Elevance Health plans to expand Paragon Healthcare's geographical footprint and operations while bolstering its therapeutic coverage.

As per the company, Paragon Healthcare serves more than 35,000 patients at over 40 ambulatory infusion centers across 8 states as well as patients' homes.

Upon the closing of the deal, Paragon Healthcare will operate as part of CarelonRx, the pharmacy segment of Elevance Health.

The acquisition is expected to close in the first half of 2024 and is not anticipated to have a material impact on adjusted earnings per share in 2024.

In pre-market activity, Elevance shares are trading at $479.23, down 0.26% on the New York Stock Exchange.